Iron ore is often the poster-child for commoditisation of a previously archaic market. The move to transparency from deals done behind closed doors, to spot pricing heralded a new era of financialisation required by rising volatility. While price indexes are now so embedded in the system, the industry needs to seriously consider this hypothetical. The incumbent pricing mechanism around 62pc Fe indexes is fragmenting at a rapid pace.
Unlike base metals, there is no standard grade of iron ore. Commodity contract pricing and futures are based on indexes that reflect a range of grades, loosely representing three tiers of the market: 58pc, 62pc and 65pc for low, medium and high grade ores respectively. Yet spot liquidity underpinning each of these indices is drastically variable.
What is the outlook for Iron Ore prices globally?Argus’ daily metal reports give you the professional, specialist tools you need to meet the demands of today’s global metal markets. Whether it is steel feedstocks, base metals, battery materials, regional scrap or secondary markets, we give you the clearest, most accurate indexation-quality price assessments, news and analysis available anywhere.
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ARGUS Metal Prices
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